News

Jun 09, 2023

AC Circuit Breaker Market Worth $5.3 Billion by 2028

CHICAGO, June 8, 2023 /PRNewswire/ -- AC Circuit Breaker Market is projected to

CHICAGO, June 8, 2023 /PRNewswire/ -- AC Circuit Breaker Market is projected to reach USD 5.3 billion in 2028 from USD 4.1 billion in 2023 at a CAGR of 5.3% according to a new report by MarketsandMarkets™. An AC circuit breaker is a switch that interrupts or breaks the flow of electrical energy. The AC power system uses alternating current (AC) and it must be interrupted by an approved device for safety reasons. It can also be used to incrementally break electric current instead of switching off abruptly. They are designed to trip at currents between five and ten times their rated load.

Browse in-depth TOC on "AC Circuit Breaker Market"303 - Tables54 - Figures265 – Pages

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AC Circuit Breaker Market Scope:

Report Coverage

Details

Market Size

USD 5.3 billion in 2028

Growth Rate

5.3% of CAGR

Largest Market

Europe

Market Dynamics

Drivers, Restraints, Opportunities & Challenges

Forecast Period

2023-2028

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Insulation Type, By Installation, By Voltage, By End-Use Industry

Geographies Covered

Asia Pacific, North America, Europe, Middle East & Africa, and South America

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Emerging smart technologies and digitalization systems

Key Market Drivers

Increasing capacity additions and enhancements for T&D networks

Medium voltage segment is expected to result in the segment occupying the second largest market share of the AC Circuit Breaker

The medium voltage segment accounted for a share of 30.7% of the AC Circuit Breaker Market in 2022. Medium-voltage AC circuit breakers are rated between 1 and 69 kV. These AC circuit breakers are categorized into oil, vacuum, air, and gas insulation types. They can be accumulated into metal-enclosed switchgear for indoor as well as outdoor use in a substation.

This makes AC circuit breakers very reliable, even under extreme climatic conditions and in highly active seismic areas. The medium-voltage AC circuit breakers generally serve all end-user segments—transmission & distribution utilities, power generation, industrial, and others. Medium voltage breakers are environmentally friendly; carry friendly operation; have automatic alignment, easy mechanism, and control; and are installation-friendly, reliable, safe, and affordable.

Vacuum insulation type is estimated to be the second largest and second–fastest growing market

Based on the insulation type segment of AC Circuit Breaker systems, the vacuum type is estimated to be the fastest and largest growing market from 2021 to 2028. A vacuum AC circuit breaker performs its operation of switching and interrelated arc interruption in the vacuum chamber of the breaker, which is called a vacuum interrupter. It is a circuit breaker where the quenching of the arc takes place in a vacuum medium. The closing and opening of current-carrying contacts and associated arc interruption occur in vacuum interrupters. Vacuum AC circuit breaker provides various advantages, such as long service life than other types of AC circuit breakers and no fire hazard such as in oil AC circuit breakers. In addition, it is more environmentally friendly than the SF6 circuit breaker. All these factors are likely to boost the demand for vacuum AC circuit breakers. Companies such as ABB, Siemens, Eaton, Schneider Electric, Mitsubishi Electric, and Toshiba provide AC circuit breakers with varying voltage ratings, including 3.6/7.2/12/15/24 kV.

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Indoor installation is estimated to be the second largest and second–fastest growing market

Based on the installation segment of AC Circuit Breaker systems, the indoor type is estimated to be the second largest and second–fastest growing segment in the global AC Circuit Breaker Market. Indoor AC circuit breakers are mainly designed for commercial and residential infrastructures and industrial plant applications. These AC circuit breakers comprise magnetic and spring-charged actuators, encapsulated and embedded poles, SF6 or vacuum-encapsulated interrupters, and integrated protection and control sensors. Maximum indoor AC circuit breakers are operated at medium voltage with a metal-clad switchgear enclosure. High-voltage indoor AC circuit breakers include the protection of equipment in transmission lines, transformers, and busbars.

Europe likely to emerge as the second-largest AC Circuit Breaker Industry

Europe accounted for a 26.2% share with a market size worth USD 1,035 million in 2022. The European AC Circuit Breaker Market, by country, has been segmented into the Germany, UK, France, Italy, and the Rest of Europe. The AC Circuit Breaker Market in Europe is well-established and mature, driven by factors such as infrastructure development, industrial growth, renewable energy integration, and the need for electrical safety and protection. Europe has a strong focus on energy efficiency and sustainability, which influences the demand for advanced ac circuit breaker technologies. The EU has introduced tougher goals to achieve a net zero economy for the bloc within the next three decades. The scale and complexity of this challenge should not be underestimated, as it rests on economic recovery and growth, while minimizing emissions. Europe is home to a diverse range of industries, including automotive, manufacturing, pharmaceuticals, and more. ABB (Switzerland) and Eaton (Ireland) are the key players in the European AC Circuit Breaker Market.

Key Market Players:

Some of the major players in the AC Circuit Breaker Companies are Siemens (Germany), Schneider Electric (France), Eaton (US), Mitsubishi Electric (Japan), General Electric (US), Rockwell Automation (US), BRUSH Group (UK), HD Hyundai Electric Co., Ltd. (South Korea), Chint Electrics (China), Suntree Electric Group Co., Ltd. (China), Toshiba Corporation (Japan), Shanghai Liangxin Electric Co., Ltd. (China), Sécheron Hasler Group (Switzerland), Panasonic Corporation (Japan), Fuji Electric (Japan), Powell Industries (US), Legrand (France), Alstom (France), and TE Connectivity (Switzerland).

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Recent Developments

In Nov 2021, Siemens Smart Infrastructure is enhancing its Sentron portfolio of air circuit breakers with the new 3WA series. Being an important element of low-voltage power distribution, the 3WA series protects electrical installations in buildings, infrastructure, and industrial facilities from damage caused by overload, short circuits, or ground faults.

In Jan 2021, ABB India launched Formula DIN-Rail, a complete range of miniature circuit breakers (MCBs), residual current circuit breakers (RCCBs), and isolators for the retail electrical market estimated to be worth USD 250 million in India. ABB Formula DIN-Rail portfolio, with its contemporary design, provides optimum protection to electrical circuits from possible damages caused by overload, short circuits, and earth leakages in buildings. The MCBs are available with a 7-year warranty. This range meets international standards and is manufactured in ABB India's smart buildings factory in Bengaluru (Karnataka), with a production capacity of 12 million poles of MCBs per year.

In September 2019, Eaton launched Power management specialist Eaton announced the global launch at InnoTrans 2018 of ADR, a new product family from Eaton's Heinemann Hydraulic Magnetic Circuit Breakers (HMCB) range.

In February 2019, Schneider Electric Friday announced the launch of Master pact MTZ, the next generation high-power low voltage circuit-breakers assembled in the Indian market. Master pact MTZ is a first-of-its-kind air circuit breaker that provides customers with enhanced performance, reliability, and safety. A circuit breaker is an automatically operated electrical switch that protects an electrical circuit from damage caused by overload.

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SOURCE MarketsandMarkets